I am 60 years old and retired for several years from a state job. I am living off a small pension of $32,000. When the stock market crashed in 2008 I moved my 457 plan of $80,000 from the stock market to their stable income fund. I also have $70,000 in an ING savings account and 30,000 in local banks. I am wondering what is the best way to have my $180,000 in life savings grow being that I am very risk averse. I am considering moving the 457 plan money to a whole term life insurance policy and moving the money from the savings account to gold. Are these smart decisions? What do you think is my best course of action?
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